The NRP Group to Break Ground on $12 Million Veterans Initiative Apartments - First in Phoenix.

Madison Pointe is the first multifamily construction project in the city of Phoenix to feature a dedicated veteran’s initiative.

Architectural rendering of Madison Pointe Apartment Homes

Phoenix, Ariz. (PRWEB) February 02, 2012

The NRP Group is announcing the upcoming official VIP groundbreaking ceremony of the $12 million Madison Pointe Apartment Homes project – which is slated to be ready for residents in the Fall of 2012 – will take place on Thursday, February 9, 2012. Madison Pointe is the first multifamily construction project in the city of Phoenix to feature a dedicated veteran’s initiative.

The project - located at 4150 N. 9th Street - was financed with funds from Bank of America (who is the equity partner, construction loan originator and permanent lender), The Arizona Department of Housing, and the City of Phoenix, which provided a HOME loan.

Ten units have been set aside for VASH vouchers, which is the Department of Housing and Urban Development and Department of Veterans Affairs Supported Housing (HUD-VASH) program providing long-term case management, free supportive services and permanent housing support. There are an additional ten units set aside for rental subsidy through the McKinney Vento Grant with case management funded through a grant from Supportive Services to Veteran Families.

Designed with low to moderate income U.S. veterans and their families in mind, Madison Pointe will offer sixty affordable 1-, 2-, and 3-bedroom apartment homes with an array of features including a fully-equipped kitchen, ceiling fans, in-unit full size washer and dryer, and a private patio or balcony.

Amenities include a clubhouse with community room, free resident fitness center, playground, computer center with high-speed internet access, carports, and full perimeter fencing and gated access.

Madison Pointe will be a short walk to the Carl T. Hayden VA Medical Center, Vietnam Veterans of American and the U.S. Department of Veteran Affairs, giving veteran residents convenient access to world-class medical care and veteran services.

The NRP Group LLC: Developer, Builder and Management Company

The NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every project The NRP Group takes on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB’s Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008 and 2009 by Affordable Housing Finance.

Since its’ founding in September 1995 by Alan F. Scott, T. Richard Bailey and J. David Heller, the company has experienced continual growth in the fields of single-family, multi-family, senior and student housing. In all, more than 18,077 housing units have been built with another 3,292+ planned in 2012.

In 2003, the owners formed NRP Management, which at year-end 2011 managed 96 properties encompassing 10,079 market rate and tax credit family and senior apartment properties in Ohio, Michigan, North Carolina, Virginia, Texas, Indiana, New Mexico, Florida, and Arizona.